60,132 Shares in Spotify Technology $SPOT Acquired by Atalanta Sosnoff Capital LLC

Key Points

• Atalanta Sosnoff Capital LLC has invested approximately $33.07 million in Spotify Technology, acquiring 60,132 shares of the stock during the first quarter.
• Spotify's latest quarterly earnings report indicated a loss of ($0.42) EPS, which missed analysts' consensus estimate of $2.00 EPS, despite a revenue of $4.94 billion.
• Analysts have raised their price targets for Spotify, with Guggenheim now setting a target of $850.00, indicating continued confidence in the stock's performance.

Atalanta Sosnoff Capital LLC acquired a new position in Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 60,132 shares of the company's stock, valued at approximately $33,074,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPOT. Goldman Sachs Group Inc. boosted its holdings in shares of Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after purchasing an additional 1,601,653 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after purchasing an additional 1,262,614 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Spotify Technology by 325.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock worth $503,316,000 after purchasing an additional 861,232 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Spotify Technology by 75,856.5% in the 1st quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock worth $394,805,000 after purchasing an additional 716,844 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Spotify Technology in the 1st quarter worth about $383,139,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SPOT shares. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Benchmark lowered their price objective on Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Pivotal Research boosted their price objective on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Canaccord Genuity Group boosted their price objective on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, UBS Group lowered their price target on Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Twenty research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Stock Up 0.6%

Shares of NYSE:SPOT traded up $3.87 during trading on Friday, hitting $707.72. The stock had a trading volume of 1,210,930 shares, compared to its average volume of 1,360,664. Spotify Technology has a 12 month low of $319.07 and a 12 month high of $785.00. The company has a market capitalization of $144.88 billion, a PE ratio of 171.78, a PEG ratio of 3.04 and a beta of 1.71. The firm's fifty day moving average is $695.80 and its 200 day moving average is $645.76.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the company posted $1.33 EPS. The firm's revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.